Lake Street Private Wealth LLC Sells 11,866 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Lake Street Private Wealth LLC lessened its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 35.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,486 shares of the pipeline company’s stock after selling 11,866 shares during the period. Lake Street Private Wealth LLC’s holdings in Kinder Morgan were worth $475,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. SignalPoint Asset Management LLC increased its holdings in Kinder Morgan by 1.5% during the 3rd quarter. SignalPoint Asset Management LLC now owns 30,059 shares of the pipeline company’s stock worth $655,000 after purchasing an additional 447 shares during the period. Trust Co. of Oklahoma raised its holdings in shares of Kinder Morgan by 1.5% in the third quarter. Trust Co. of Oklahoma now owns 33,586 shares of the pipeline company’s stock valued at $742,000 after acquiring an additional 486 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Kinder Morgan by 0.3% in the second quarter. Oregon Public Employees Retirement Fund now owns 165,827 shares of the pipeline company’s stock valued at $3,295,000 after acquiring an additional 530 shares in the last quarter. Premier Path Wealth Partners LLC grew its holdings in Kinder Morgan by 1.4% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 39,525 shares of the pipeline company’s stock worth $785,000 after acquiring an additional 545 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its position in Kinder Morgan by 4.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 13,415 shares of the pipeline company’s stock valued at $267,000 after purchasing an additional 566 shares during the period. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Insider Buying and Selling at Kinder Morgan

In other news, President Thomas A. Martin sold 100,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $21.01, for a total value of $2,101,000.00. Following the completion of the transaction, the president now directly owns 916,773 shares in the company, valued at $19,261,400.73. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, President Thomas A. Martin sold 100,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $21.01, for a total value of $2,101,000.00. Following the sale, the president now owns 916,773 shares in the company, valued at $19,261,400.73. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director C Park Shaper sold 690,142 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $24.75, for a total transaction of $17,081,014.50. Following the transaction, the director now directly owns 6,809,858 shares of the company’s stock, valued at approximately $168,543,985.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 817,040 shares of company stock worth $19,747,879. 12.64% of the stock is currently owned by insiders.

Kinder Morgan Stock Performance

KMI opened at $24.76 on Thursday. The company has a market cap of $54.95 billion, a P/E ratio of 22.51, a price-to-earnings-growth ratio of 3.27 and a beta of 0.93. The company has a quick ratio of 0.28, a current ratio of 0.37 and a debt-to-equity ratio of 0.90. The firm’s 50-day moving average price is $22.35 and its 200-day moving average price is $20.61. Kinder Morgan, Inc. has a 52-week low of $15.91 and a 52-week high of $25.43.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the previous year, the company posted $0.25 EPS. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, equities analysts anticipate that Kinder Morgan, Inc. will post 1.19 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.2875 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.15 dividend on an annualized basis and a yield of 4.64%. Kinder Morgan’s dividend payout ratio is currently 104.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. The Goldman Sachs Group reaffirmed a “conviction-buy” rating on shares of Kinder Morgan in a research report on Friday, October 18th. UBS Group boosted their price target on Kinder Morgan from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday. Argus raised Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Friday, July 19th. Finally, Scotiabank boosted their target price on shares of Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 17th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.91.

Kinder Morgan Profile

Kinder Morgan, Inc operates as an energy infrastructure company primarily in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and storage systems; natural gas gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas gasification, liquefaction, and storage facilities.